March 2020 BUDGET - ACTUALS - %VAR - %

Budget Actuals $Var %

Total Revenue: 200,000 196,947 -3,053 -2%

Total Cost of Goods Sold: 10,000 98,000 -2,000 -2%

Gross Profit: 100,000 98,947 -1,053 -1%

Total Expense: 75,000 72,000 -3,000 -4%

Total Interest Income: 200 100 -100 -50%

Total Other Expense 1,000 1,000 0 0%

-800 -900 -100 13%

Earnings Before Interest, Taxes

Depreciation, & Amortization (EBITDA):

24,200 26,047 1,847 8%

Total Interest Expense: 6,400 6,385 -15 0%

Total Deprecation &

Amortization: 10,000 10,000 0 0%

Earnings Before Taxes (EBT): 7,800 9,662 1,862 24%

Total Income Taxes (30%): 2,340 2,899 559 24%

Net Income: 5,460 6,764 1,304 2%

A. What is the total revenue for March 2020 when compared to the budget?

B. What is the variance from the budget in the net income for the month?

C. What is the income tax percentage for the month?